MNI China Daily Summary: Tuesday, December 10

MNI BRIEF: China Nov Exports Slows, Imports Slide

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CHINA NOV EXPORTS +6.7% Y/Y VS MEDIAN +8.9% Y/Y: CUSTOMS

MNI: CHINA YTD EXPORTS +6.7% Y/Y IN YUAN TERM: CUSTOMS

MNI: PBOC Net Injects CNY90.3 Bln via OMO Tuesday

US NFIB NOV SMALL BUSINESS INDEX 101.7

MNI: GERMAN NOV CPI +2.2 % Y/Y

MNI: NORWAY NOV CORE CPI +0.1% M/M, +3% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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NATGAS: TTF Holds Within Range Amid Stable Supplies

NATGAS

TTF front month is holding within the €31.1/MWh to €31.975/MWh range so far this week amid stable fundamentals as muted demand and healthy storage is weighed against supply risks.

  • Temperatures in NW Europe are forecast near normal this week but are expected to rise above normal into the start of August while hot weather is forecast to continue in southern Europe.
  • Norwegian pipeline supplies to Europe are today nominated at 320.2mcm/d with outages at Visund, Troll and Karsto reducing capacity by 36.6mcm/d today.
  • European LNG sendout was unchanged on the day at 246mcm/d on July 22 compared to an average of 251mcm/d so far in July, according to Bloomberg.
  • European gas storage is up to 83.15% full on July 22 according to GIE compared to the five year average of 73.45% with near normal injection rates.
  • Gas transit flows through Ukraine are at 42.4mcm/d today and Algeria gas flow to Italy at Mazara are up to 60.45cm/d.
  • ICE TTF daily aggregate traded futures volume was at 190k on July 22.
    • TTF AUG 24 down 0.3% at 31.52€/MWh
    • TTF WIN 24 down 0.5% at 36.63€/MWh
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